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Ivanhoe Electric to Receive $58.4 million Cash Distribution from Cordoba Minerals Corp
Cordoba Minerals' Shareholders to Receive Net Proceeds from the Recent Sale of the Alacrán Project in ColombiaPhoenix, Arizona--(Newsfile Corp. - March 13, 2026) - Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) ("Ivanhoe Electric") Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to announce that Ivanhoe Electric's 59.6%-owned subsidiary, Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) ("Cordoba") has announced the timing and amount..
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals' Shareholders to Receive Net Proceeds from the Recent Sale of the Alacrán Project in Colombia","length":114,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Phoenix, Arizona--(Newsfile Corp. - March 13, 2026) - Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) ("Ivanhoe Electric") Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to announce that Ivanhoe Electric's 59.6%-owned subsidiary, Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) ("Cordoba") has announced the timing and amount of its cash distribution to Cordoba shareholders.","length":462,"tagName":"p"},{"type":"text","content":"On March 6, 2026, Cordoba announced that it had closed the sale of its remaining 50% interest in the Alacrán Project in Colombia for total cash proceeds of $128 million. Under the terms of the sale, the net cash proceeds remaining after settling all outstanding liabilities and obligations, and retaining $10 million for ongoing corporate purposes, would be distributed to Cordoba shareholders.","length":394,"tagName":"p"},{"type":"text","content":"Cordoba subsequently announced that the final cash amount per share to be distributed would be $1.01 per Cordoba common share to registered Cordoba shareholders as of close of business on March 20, 2026. The cash payment is expected to be made on or about March 25, 2026.","length":271,"tagName":"p"},{"type":"text","content":"Ivanhoe Electric currently owns 57,855,427 common shares of Cordoba which entitles it to an approximate $58.4 million cash payment as part of Cordoba's distribution.","length":169,"tagName":"p"},{"type":"text","content":"Cash distribution from Cordoba will enhance Ivanhoe Electric's already strong liquidity position","length":100,"tagName":"p"},{"type":"text","content":"As at December 31, 2025, Ivanhoe Electric had cash and cash equivalents totaling $173.3 million. As of February 17, 2026, Ivanhoe Electric received $82.6 million in proceeds from the exercise of all the outstanding warrants associated with the Company's February 14, 2025, equity financing. The forthcoming $58.4 million distribution from Cordoba will strengthen Ivanhoe Electric's cash position. The Company's liquidity is enhanced further by an undrawn $200 mi...